Cormac J. Twomey Sells 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $45.15, for a total value of $22,575.00. Following the sale, the executive vice president now directly owns 24,436 shares in the company, valued at $1,103,285.40. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Concentrix Stock Performance

CNXC stock opened at $45.31 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $45.75 and its two-hundred day simple moving average is $58.64. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $106.10. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.58 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the business earned $2.54 EPS. The business’s revenue for the quarter was up 46.2% on a year-over-year basis. Analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a $0.333 dividend. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, October 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.94%. Concentrix’s dividend payout ratio (DPR) is presently 43.18%.

Hedge Funds Weigh In On Concentrix

Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Concentrix during the 3rd quarter worth $1,243,000. SG Americas Securities LLC bought a new position in shares of Concentrix during the 2nd quarter worth $1,445,000. Raymond James & Associates grew its position in shares of Concentrix by 73.3% during the 3rd quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock worth $2,835,000 after buying an additional 23,387 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Concentrix by 24.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock worth $3,319,000 after buying an additional 12,870 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Concentrix during the third quarter valued at about $1,255,000. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

CNXC has been the topic of several recent research reports. Robert W. Baird initiated coverage on Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. Baird R W raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Bank of America decreased their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Canaccord Genuity Group decreased their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $79.00.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.